Coupang, Inc. posts Q3 operating loss of 642.3 billion won as revenue rises but losses continue

[Financial News] Coupang, Inc., the parent company of Coupang, recorded revenue of more than 14 trillion won in the third quarter of this year, but its operating loss exceeded 600 billion won, marking its third consecutive quarterly loss.
According to Coupang, Inc.’s consolidated third-quarter earnings report filed with the U.S. Securities and Exchange Commission (SEC) on the 4th (Korea time), its operating loss for the third quarter of this year totaled $450 million (642.3 billion won). Compared with operating profit of $162 million (224.5 billion won) in the same period last year, the company swung to a loss.
As a result, Coupang, Inc. recorded operating losses for three consecutive quarters this year. Earlier this year, it posted operating losses of 354.5 billion won in the first quarter and 835 billion won in the second quarter.
Revenue, meanwhile, continued to grow. Revenue for the third quarter of this year was $9.962 billion (14.2209 trillion won), up 11% from $9.267 billion (12.8455 trillion won) in the same period last year.
Net loss for the third quarter of this year was $501 million (715.1 billion won), compared with net income of $95 million (131.6 billion won) in the same period last year, marking a swing to a loss and extending the streak to three consecutive quarters.


[email protected] Jang Yu-ha Reporter